An Advantage of the Single-Step Income Statement Over the Multistep

question 46

Multiple Choice

An advantage of the single-step income statement over the multistep form is

• A)the amount of information it provides.
• B)its simplicity.
• C)its comprehensiveness.
• D)its use in computing ratios.

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Definitions:

Main Limitation

the primary constraint or shortcoming that restricts effectiveness, progress, or development in a certain context or system.

Consideration

A leadership behavior characterized by showing concern and respect for followers, looking out for their welfare and creating a friendly work environment.

Effective Leadership

Involves influencing, motivating, and enabling others to contribute toward the effectiveness and success of the organizations of which they are members.

Psychologically Predisposed

Having a natural inclination or tendency towards certain behaviors or mental states due to psychological factors.